Bakkt Holdings, Inc. has officially completed its acquisition of Distributed Technologies Research (DTR), a fintech company focused on stablecoin infrastructure and AI-driven payment technology, as the digital asset company expands beyond traditional crypto services into next-generation financial infrastructure.
The transaction, announced on April 30, marks a strategic step for Bakkt as it seeks to strengthen its role in digital payments, programmable finance, and institutional money movement. Through the acquisition, Bakkt aims to build a modern financial platform that supports faster and more efficient settlement services for businesses, banks, and fintech firms.
DTR develops infrastructure for stablecoin payments and “agentic” financial systems, which allow software to automate payment decisions and fund movement. The company also offers compliance and financial technology solutions designed for regulated institutions.
Bakkt said the acquisition will support its efforts to create an always-on digital settlement network that can operate continuously, unlike traditional banking systems that rely on limited operating hours and slower correspondent banking processes.
As part of the deal, Bakkt issued approximately 11.3 million Class A common shares to DTR’s stakeholders at closing. The company may issue up to 725,592 additional shares tied to certain outstanding warrants, depending on future conditions.
The acquisition is especially notable because Akshay Naheta, Bakkt’s president and co-CEO, founded DTR. The merger aligns with his strategy to reposition Bakkt as a global financial infrastructure provider rather than a company focused only on digital asset trading.
The move highlights increasing institutional demand for blockchain-based payment systems as financial firms seek more efficient cross-border transaction infrastructure.
